Insee
Informations Rapides · 29 February 2024 · n° 54
Informations rapidesIn Q4 2023, the fall of prices of second-hand dwellings intensified (‑1.8%) Notaries-INSEE second-hand dwellings price index - fourth quarter 2023

In Q4 2023, prices of second-hand dwellings in France (excluding Mayotte) fell again over a quarter and more sharply than in previous quarter: ‑1.8% in Q4 2023 (provisional seasonally adjusted results), after ‑1.1% in Q3 2023 and -0.8% in Q2 2023.

Over a year, prices declined for the second quarter in a row: ‑4.0% in Q4 2023, after ‑1.8% in Q3 and +0.5% in Q2. Prices fell by 4.1% for flats and by 3.8% for houses .

Informations rapides
No 54
Paru le :Paru le29/02/2024

In Q4 2023, prices of second-hand dwellings in France (excluding Mayotte) fell again over a quarter and more sharply than in previous quarter: ‑1.8% in Q4 2023 (provisional seasonally adjusted results), after ‑1.1% in Q3 2023 and -0.8% in Q2 2023.

Over a year, prices declined for the second quarter in a row: ‑4.0% in Q4 2023, after ‑1.8% in Q3 and +0.5% in Q2. Prices fell by 4.1% for flats and by 3.8% for houses .

Variation in prices of second-hand dwellings in France over a year

Variation in prices of second-hand dwellings in France over a year
France - flats France France - houses
2023-Q4 -4.1 -4.0 -3.8
2023-Q3 -2.0 -1.8 -1.6
2023-Q2 0.0 0.5 0.9
2023-Q1 2.1 2.7 3.0
2022-Q4 3.4 4.6 5.5
2022-Q3 4.1 6.4 8.1
2022-Q2 4.5 6.8 8.5
2022-Q1 4.7 7.3 9.1
2021-Q4 4.6 7.1 9.0
2021-Q3 5.3 7.5 9.0
2021-Q2 4.9 6.3 7.3
2021-Q1 5.1 6.0 6.6
2020-Q4 6.4 6.4 6.5
2020-Q3 6.6 5.2 4.3
2020-Q2 7.0 5.6 4.7
2020-Q1 6.4 4.9 3.9
2019-Q4 5.3 3.7 2.6
2019-Q3 4.0 3.2 2.5
2019-Q2 4.3 3.1 2.3
2019-Q1 3.8 3.0 2.5
2018-Q4 3.4 3.2 3.1
2018-Q3 3.4 2.9 2.6
2018-Q2 3.3 2.8 2.5
2018-Q1 3.8 2.9 2.3
2017-Q4 4.3 3.3 2.5
2017-Q3 4.5 3.2 2.4
2017-Q2 3.7 3.1 2.6
2017-Q1 3.0 2.5 2.1
2016-Q4 1.6 1.5 1.4
2016-Q3 1.0 1.3 1.5
2016-Q2 0.5 0.6 0.7
2016-Q1 -0.4 0.3 0.9
2015-Q4 -1.1 -0.4 0.2
2015-Q3 -2.0 -1.8 -1.6
2015-Q2 -3.0 -2.6 -2.4
2015-Q1 -2.8 -2.4 -2.1
2014-Q4 -2.4 -2.5 -2.6
2014-Q3 -2.0 -1.4 -1.0
2014-Q2 -1.3 -1.4 -1.4
2014-Q1 -1.4 -1.9 -2.2
2013-Q4 -1.8 -1.9 -2.0
2013-Q3 -1.7 -2.3 -2.8
2013-Q2 -1.9 -2.2 -2.5
2013-Q1 -1.5 -2.0 -2.4
2012-Q4 -1.4 -2.1 -2.6
2012-Q3 -0.8 -1.7 -2.3
2012-Q2 1.0 -0.3 -1.2
2012-Q1 3.8 1.8 0.4
2011-Q4 6.2 3.7 1.8
2011-Q3 8.8 6.2 4.2
2011-Q2 10.0 7.1 4.9
2011-Q1 9.5 7.1 5.3

Variation in prices of second-hand dwellings in France over a year

  • Scope: France (excluding Mayotte).
  • Sources: INSEE, French notaries - ADSN Group, Grand Paris notaries - PNS.

Variation in prices of second-hand dwellings in France

Variation in prices of second-hand dwellings in France
Change in
3 months (S.A.) 12 months
2023 Q2 (d) 2023 Q3 (d) 2023 Q4 (p) 2023 Q2 (d) 2023 Q3 (d) 2023 Q4 (p)
France -0.8 -1.1 -1.8 0.5 -1.8 -4.0
Flats -1.0 -1.2 -1.8 0.0 -2.0 -4.1
Houses -0.6 -1.0 -1.9 0.9 -1.6 -3.8
  • (p): provisional; (d): definitive.
  • Scope: France (excluding Mayotte).
  • Sources: INSEE, ADSN – BIEN – Grand Paris notaries, French notaries, Perval society.

Second-hand dwelling prices continued to fall in Île-de-France

In Q4 2023, the prices of second-hand dwellings in Île-de-France went down over a quarter for the fifth quarter in a row: ‑1.7%, after ‑2.1% in Q3 and ‑2.0% in Q2. The fall was more marked for flats (-1.9%) than for houses (-1.2%). Flat prices continued to fall in Paris (‑2.0% in Q4 after ‑1.4% in Q3), immediate suburbs (‑1.7% after ‑2.1%) and the outer suburbs (‑1.9% after ‑2.2%).

Over a year, prices of second-hand dwellings in Île-de-France fell sharply in Q4 2023: ‑6.9%, after ‑5.4% in Q3 and ‑3.1% in Q2. They fell at a same rate for flats (-6.9% after -5.4%) and houses in Île-de-France (-6.8% after -5.4%). The year-on-year fall in flat prices continued to fall in Paris (‑6.8% after ‑5.4%), immediate suburbs (‑7.5% after ‑6.0%) and the outer suburbs (‑6.2% after ‑4.0%).

In Provincial France, the decline in prices of second-hand dwellings intensified

In Q4 2023, the fall in prices of second-hand dwellings in Provincial France intensified: ‑1.9% after ‑0.8% in Q3 2023 and ‑0.4 in Q2 2023.

Over a year, prices fell for the second time in a row: ‑2.9% in Q4 2023, after ‑0.5% in Q3 2023. House prices continued to decline (‑3.3% after ‑1.0%), while flat prices fell for the first time since 2016 (-2.0% after +0.5%).

Second-hand dwellings price index in metropolitan France

Second-hand dwellings price index in metropolitan France
Province - flats Province - houses Île-de-France - flats Île-de-France - houses
2023-Q4 132.6 132.0 119.8 118.6
2023-Q3 135.0 134.6 122.1 120.1
2023-Q2 136.1 135.6 124.3 123.3
2023-Q1 136.3 136.2 127.1 125.4
2022-Q4 135.3 136.4 128.7 127.2
2022-Q3 134.4 136.1 129.1 127.1
2022-Q2 132.4 133.8 129.0 125.5
2022-Q1 130.1 131.6 128.7 124.5
2021-Q4 128.2 128.8 127.7 122.8
2021-Q3 125.4 125.4 128.6 120.6
2021-Q2 123.2 122.7 127.9 118.7
2021-Q1 120.6 119.8 127.4 117.5
2020-Q4 118.6 117.7 127.6 115.5
2020-Q3 116.5 114.5 125.7 112.5
2020-Q2 115.2 114.1 125.2 111.9
2020-Q1 113.5 112.5 123.0 109.6
2019-Q4 111.2 110.7 120.5 108.2
2019-Q3 109.4 109.9 118.2 107.9
2019-Q2 108.1 108.9 116.7 106.8
2019-Q1 107.0 108.0 115.2 106.3
2018-Q4 106.0 107.5 113.7 107.3
2018-Q3 105.8 106.9 112.6 106.2
2018-Q2 104.2 106.1 111.1 105.8
2018-Q1 104.1 105.4 109.8 105.0
2017-Q4 103.3 104.2 108.8 104.4
2017-Q3 103.1 104.0 108.0 103.8
2017-Q2 102.3 103.3 106.1 103.1
2017-Q1 101.6 103.0 104.5 102.5
2016-Q4 100.2 101.7 103.0 101.6
2016-Q3 99.6 101.6 102.2 101.3
2016-Q2 99.5 100.6 101.4 100.9
2016-Q1 99.6 100.9 100.4 100.5
2015-Q4 99.8 100.4 100.1 99.9
2015-Q3 99.9 100.0 99.9 100.0
2015-Q2 99.9 99.9 99.8 99.7
2015-Q1 100.6 100.0 100.3 100.0
2014-Q4 100.9 100.2 101.2 100.3
2014-Q3 102.2 101.7 101.5 101.6
2014-Q2 103.2 102.4 102.6 101.6
2014-Q1 103.6 102.2 103.0 102.2
2013-Q4 104.0 102.8 102.9 103.3
2013-Q3 104.1 102.7 103.5 103.4
2013-Q2 104.3 103.6 104.2 104.5
2013-Q1 105.0 104.4 104.6 104.9
2012-Q4 105.8 104.9 104.7 105.2
2012-Q3 106.1 105.9 105.2 105.0
2012-Q2 107.2 106.5 105.2 106.2
2012-Q1 107.8 107.1 105.1 106.9
2011-Q4 108.0 107.7 105.5 107.1
2011-Q3 108.0 108.4 105.0 107.0
2011-Q2 107.2 108.1 103.4 105.7
2011-Q1 106.1 107.2 99.2 103.8
2010-Q4 105.4 106.4 95.6 102.0
2010-Q3 103.9 104.7 92.0 100.0
2010-Q2 102.4 103.6 89.4 98.8
2010-Q1 101.0 102.4 86.8 97.2
2009-Q4 99.3 100.9 84.1 93.8
2009-Q3 98.3 99.9 82.7 93.2
2009-Q2 98.0 100.0 82.3 92.8
2009-Q1 99.5 101.9 84.7 95.8
2008-Q4 102.3 105.2 87.6 101.0
2008-Q3 104.8 108.9 89.0 104.4
2008-Q2 106.4 110.3 89.2 105.9
2008-Q1 106.7 111.3 88.4 105.9
2007-Q4 106.3 110.9 87.6 106.3
2007-Q3 104.8 109.6 85.4 105.0
2007-Q2 103.6 108.6 84.0 104.5
2007-Q1 102.7 107.2 82.6 103.5
2006-Q4 101.9 105.9 81.0 100.7
2006-Q3 100.0 103.8 79.5 99.5
2006-Q2 97.6 101.9 78.0 97.5
2006-Q1 95.3 99.5 75.8 95.0
2005-Q4 92.1 96.8 73.5 91.8
2005-Q3 89.0 94.3 71.5 88.4
2005-Q2 86.1 91.2 68.6 85.4
2005-Q1 82.5 88.4 66.2 82.1
2004-Q4 79.5 85.3 63.8 79.4
2004-Q3 76.2 82.2 61.4 77.0
2004-Q2 73.0 79.5 59.4 74.1
2004-Q1 70.3 77.1 57.2 72.0
2003-Q4 66.6 74.6 55.1 69.7
2003-Q3 64.4 72.3 53.3 66.8
2003-Q2 62.0 70.4 51.9 65.0
2003-Q1 59.7 68.5 50.3 63.5
2002-Q4 58.0 67.0 48.8 62.2
2002-Q3 56.2 65.2 47.4 61.4
2002-Q2 54.3 63.4 46.1 60.1
2002-Q1 52.8 62.0 44.8 58.8
2001-Q4 51.8 60.7 44.2 58.5
2001-Q3 50.5 59.6 43.5 58.0
2001-Q2 50.0 58.6 42.5 57.5
2001-Q1 48.9 57.3 41.9 55.8
2000-Q4 47.8 56.1 40.9 54.8
2000-Q3 47.3 55.2 40.3 54.1
2000-Q2 46.4 54.0 39.4 52.9
2000-Q1 45.7 53.1 38.4 52.2

Second-hand dwellings price index in metropolitan France

  • Scope: Metropolitan France.
  • Sources: INSEE, French notaries - ADSN Group, Grand Paris notaries - PNS.

Variation in prices of second-hand dwellings in metropolitan France

Variation in prices of second-hand dwellings in metropolitan France
Change in
3 months (S.A.) 12 months
2023 Q2 (d) 2023 Q3 (d) 2023 Q4 (p) 2023 Q2 (d) 2023 Q3 (d) 2023 Q4 (p)
Metropolitan France -0.8 -1.1 -1.8 0.5 -1.8 -3.9
Île-de-France -2.0 -2.1 -1.7 -3.1 -5.4 -6.9
Provincial France -0.4 -0.8 -1.9 1.8 -0.5 -2.9
- Auvergne-Rhône-Alpes -0.7 -0.8 -2.4 1.0 -1.5 -4.1
- Hauts-de-France -0.7 -1.3 -1.4 -1.0 -3.1 -4.4
- Provence-Alpes-Côte d'Azur 0.8 -0.3 -1.4 4.6 1.6 -0.6
Flats -1.0 -1.2 -1.8 0.0 -2.0 -4.1
Île-de-France -2.2 -1.8 -1.9 -3.7 -5.4 -6.9
- Paris -2.4 -1.4 -2.0 -4.4 -5.4 -6.8
- Immediate suburbs -2.1 -2.1 -1.7 -3.8 -6.0 -7.5
- Outer suburbs -1.7 -2.2 -1.9 -1.7 -4.0 -6.2
Provincial France -0.2 -0.8 -1.8 2.8 0.5 -2.0
- Conurbation > 10 000 inhabitants -0.3 -1.0 -1.9 2.5 0.1 -2.4
Central town -0.5 -1.2 -2.2 2.2 -0.4 -3.2
Suburb 0.1 -0.7 -1.3 3.1 1.0 -1.1
- Conurbation < 10 000 inhabitants 0.9 0.5 -1.0 5.3 3.8 1.4
- Auvergne-Rhône-Alpes -0.4 -1.4 -1.7 1.5 -0.9 -3.4
Lyon -2.5 -3.1 -2.6 -4.4 -7.2 -9.3
- Hauts-de-France -2.4 1.1 -1.3 -0.4 -0.2 -0.8
- Provence-Alpes-Côte d'Azur 1.5 -0.3 -1.2 5.8 3.2 1.0
Marseille -0.5 -1.0 -3.5 3.8 0.6 -3.3
Houses -0.6 -1.0 -1.8 0.9 -1.6 -3.8
Île-de-France -1.6 -2.6 -1.2 -1.9 -5.4 -6.8
- Immediate suburbs -1.9 -2.9 -0.3 -2.3 -6.0 -5.8
- Outer suburbs -1.5 -2.5 -1.6 -1.7 -5.2 -7.3
Provincial France -0.5 -0.8 -1.9 1.3 -1.0 -3.3
- Auvergne-Rhône-Alpes -1.0 -0.3 -3.0 0.5 -2.0 -4.6
- Hauts-de-France -0.3 -1.8 -1.4 -1.2 -3.6 -5.0
Conurbation of Lille -1.0 -3.5 0.6 -1.3 -5.4 -5.3
- Provence-Alpes-Côte d'Azur 0.2 -0.3 -1.5 3.5 0.1 -2.2
  • Additional data (for example by department in Île-de-France) are available on the web page of the indicator.
  • (p): provisional; (d): definitive.
  • Scope: Metropolitan France.
  • Sources: INSEE, ADSN – BIEN – Grand Paris notaries. French notaries. Perval society.

The annual number of transactions continued to fall

The annual volume of transactions kept falling since Q3 2021: at the end of December 2023, the annual number of transactions over the last twelve months was estimated at 869,000, after 1,115,000 at the end of December 2022 and 1,176,000 at the end of December 2021 (that is a fall of 26% in two years). The proportion of transactions concerned 2.3% of the dwelling stock, decreasing since the high point in Q3 2021 (3.2%) and now below the level of the early 2000s, prior the economics crisis of 2008.

Volume of transactions of second-hand dwellings over the last 12 months

Volume of transactions of second-hand dwellings over the last 12 months
Volume of transactions of second-hand dwellings over the last 12 months
2023-Q4 869
2023-Q3 928
2023-Q2 1001
2023-Q1 1070
2022-Q4 1115
2022-Q3 1138
2022-Q2 1160
2022-Q1 1177
2021-Q4 1176
2021-Q3 1201
2021-Q2 1151
2021-Q1 1078
2020-Q4 1025
2020-Q3 993
2020-Q2 1015
2020-Q1 1048
2019-Q4 1077
2019-Q3 1053
2019-Q2 1026
2019-Q1 992
2018-Q4 975
2018-Q3 964
2018-Q2 959
2018-Q1 962
2017-Q4 964
2017-Q3 950
2017-Q2 917
2017-Q1 876
2016-Q4 843
2016-Q3 824
2016-Q2 817
2016-Q1 807
2015-Q4 795
2015-Q3 750
2015-Q2 710
2015-Q1 691
2014-Q4 689
2014-Q3 722
2014-Q2 733
2014-Q1 733
2013-Q4 716
2013-Q3 687
2013-Q2 675
2013-Q1 661
2012-Q4 708
2012-Q3 734
2012-Q2 781
2012-Q1 816
2011-Q4 801
2011-Q3 821
2011-Q2 807
2011-Q1 796
2010-Q4 776
2010-Q3 737
2010-Q2 699
2010-Q1 656
2009-Q4 595
2009-Q3 568
2009-Q2 578
2009-Q1 610
2008-Q4 674
2008-Q3 717
2008-Q2 758
2008-Q1 796
2007-Q4 810
2007-Q3 821
2007-Q2 822
2007-Q1 813
2006-Q4 821
2006-Q3 832
2006-Q2 836
2006-Q1 834
2005-Q4 829
2005-Q3 821
2005-Q2 816
2005-Q1 826
2004-Q4 823
2004-Q3 827
2004-Q2 836
2004-Q1 824
2003-Q4 814
2003-Q3 806
2003-Q2 794
2003-Q1 798
2002-Q4 811
2002-Q3 803
2002-Q2 799
2002-Q1 793
2001-Q4 784
2001-Q3 791
2001-Q2 789
2001-Q1 785
2000-Q4 793
2000-Q3 780
2000-Q2 768
2000-Q1 755

Volume of transactions of second-hand dwellings over the last 12 months

  • Scope: France (excluding Mayotte).
  • Sources: IGEDD, based on notarial databases and DGFiP (MEDOC).

Revisions

The second-hand housing price index may be revised in order to include observations recorded after the previous publication.

In comparison with the results released on 30 November 2023, the quarterly change in prices of second-hand dwellings in France (excluding Mayotte) in Q3 2023 is not revised (after rounding): ‑1.1%.

For further information

Notaries-INSEE second-hand dwellings price index

The calculation of indices is based on the transactions completed over the quarter. The methodology is based on models explaining the price of housing according to its characteristics. The current value of a reference housing stock is estimated thanks to these models. Methodological principles of calculation of indices may be found in « Les indices Notaires-Insee de prix des logements anciens », Insee Méthodes number 132 released in June 2019 (in French only).

Next issue: 28 May 2024 at 8:45 am.

Pour en savoir plus

Notaries-INSEE second-hand dwellings price index

The calculation of indices is based on the transactions completed over the quarter. The methodology is based on models explaining the price of housing according to its characteristics. The current value of a reference housing stock is estimated thanks to these models. Methodological principles of calculation of indices may be found in « Les indices Notaires-Insee de prix des logements anciens », Insee Méthodes number 132 released in June 2019 (in French only).

Next issue: 28 May 2024 at 8:45 am.

: bureau-de-presse@insee.fr
: